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Alphs Company is lookhg at fwo dillerent eapital structuros, one an allequity firm and the other a levered firm with 51.76 million of debt financing

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Alphs Company is lookhg at fwo dillerent eapital structuros, one an allequity firm and the other a levered firm with 51.76 million of debt financing at 13% interest. The all-eguly firen wal have a value of $8.8 milion and 440,000 shares cuitstanding. The levered firm will have 352,000 shares outstanding. a. What is the break-even EgIt for Npha Company if there are no corponse taxes? (Reund to the nearest dahar.)

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